Pulte Mortgage going digital with help from Finicity

Pulte Mortgage, the mortgage lending arm of homebuilder PulteGroup, is partnering with 2019 HW Tech100 winner Finicity to further digitize its …

Pulte Mortgage, the mortgage lending arm of homebuilder PulteGroup, is partnering with 2019 HW Tech100 winnerFinicity to further digitize its lending process.

Pulte Mortgage and Finicity announced this week that the homebuilder will begin using Finicity’s digital income verification platform, which will allow the lender to reduce its processing time for mortgages.

“Through Finicity’s verification platform, up to 24 months of bank, brokerage and 401k data can now be accessed to confirm assets within minutes—eliminating the need for borrowers to find, copy and scan reams of paper verifications,” the companies said in a release. “This can reduce the mortgage origination time by more than a week, giving borrowers more control of the process, without a lot of the hassle.”

The addition of digital income verification is Pulte Mortgage’s latest move towards a fully digital mortgage process. According to Pulte, its mortgage applicants are able to upload documents from their mobile device; e-sign regulatory disclosures; and use a personalized digital dashboard to current their loan’s progress.

“The mortgage lending industry has changed dramatically over the decades, but never more so than over the past 10 years,” said Debra Still, president and CEO of Pulte Mortgage.

“The average loan file used to be about 300 pages, but today’s regulatory and compliance demands have pushed this figure to more than 800 pages,” Still added. “The need for ever-increasing volumes of supporting data puts an incredible burden on the borrower, which is why we strategically invest in integrated technology solutions, like Finicity, to reduce the time and complexity associated with securing a mortgage.”

The move towards digital mortgages has been made necessary because of how much of people’s live are conducted online, on their phones, and at the push of a button, Finicity CEO Steve Smith noted.

“Today’s consumers have come to expect simple and rapid experiences enabled by digitization,” Smith said. “Pulte is an innovator that is embracing digital solutions to further deliver a superior borrower experience by giving their loan consultants more time to engage with their buyers.”

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Cherry Hill Mortgage Investment Corp (CHMI) Holdings Boosted by Nordea Investment …

Renaissance Technologies LLC raised its stake in shares of Cherry Hill Mortgage Investment by 6.4% in the 3rd quarter. Renaissance Technologies …

Cherry Hill Mortgage Investment logoNordea Investment Management AB boosted its stake in shares of Cherry Hill Mortgage Investment Corp (NYSE:CHMI) by 0.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 139,000 shares of the real estate investment trust’s stock after purchasing an additional 1,200 shares during the period. Nordea Investment Management AB owned approximately 0.86% of Cherry Hill Mortgage Investment worth $2,438,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of CHMI. Renaissance Technologies LLC raised its stake in shares of Cherry Hill Mortgage Investment by 6.4% in the 3rd quarter. Renaissance Technologies LLC now owns 1,264,900 shares of the real estate investment trust’s stock valued at $22,895,000 after acquiring an additional 76,200 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Cherry Hill Mortgage Investment by 46.9% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 410,978 shares of the real estate investment trust’s stock valued at $7,209,000 after acquiring an additional 131,162 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Cherry Hill Mortgage Investment by 82.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 605,443 shares of the real estate investment trust’s stock valued at $10,958,000 after acquiring an additional 273,835 shares during the period. First Trust Advisors LP raised its stake in shares of Cherry Hill Mortgage Investment by 35.4% in the 3rd quarter. First Trust Advisors LP now owns 21,865 shares of the real estate investment trust’s stock valued at $396,000 after acquiring an additional 5,713 shares during the period. Finally, Summit Global Investments raised its stake in shares of Cherry Hill Mortgage Investment by 3.0% in the 4th quarter. Summit Global Investments now owns 41,000 shares of the real estate investment trust’s stock valued at $719,000 after acquiring an additional 1,200 shares during the period. 58.90% of the stock is currently owned by institutional investors.

Shares of CHMI stock opened at $17.33 on Wednesday. Cherry Hill Mortgage Investment Corp has a 1-year low of $16.30 and a 1-year high of $19.35. The firm has a market cap of $290.87 million, a price-to-earnings ratio of 7.70 and a beta of 0.35.

Cherry Hill Mortgage Investment (NYSE:CHMI) last posted its quarterly earnings results on Monday, March 18th. The real estate investment trust reported $0.66 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.51 by $0.15. Cherry Hill Mortgage Investment had a net margin of 64.66% and a return on equity of 12.07%. The business had revenue of $6.57 million during the quarter, compared to analyst estimates of $5.17 million. Sell-side analysts predict that Cherry Hill Mortgage Investment Corp will post 2.06 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Monday, March 18th will be issued a $0.49 dividend. This represents a $1.96 annualized dividend and a dividend yield of 11.31%. The ex-dividend date is Friday, March 15th. Cherry Hill Mortgage Investment’s dividend payout ratio (DPR) is presently 87.11%.

A number of research firms recently weighed in on CHMI. Zacks Investment Research lowered shares of Cherry Hill Mortgage Investment from a “buy” rating to a “hold” rating in a report on Tuesday, January 8th. Wedbush set a $20.00 price target on shares of Cherry Hill Mortgage Investment and gave the company a “buy” rating in a report on Tuesday, January 22nd. Finally, ValuEngine lowered shares of Cherry Hill Mortgage Investment from a “hold” rating to a “sell” rating in a report on Wednesday, April 3rd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $19.33.

TRADEMARK VIOLATION NOTICE: This report was originally reported by Highlight Press and is owned by of Highlight Press. If you are accessing this report on another site, it was stolen and republished in violation of U.S. and international copyright and trademark legislation. The original version of this report can be accessed at https://highlightpress.com/2019/04/10/cherry-hill-mortgage-investment-corp-chmi-holdings-boosted-by-nordea-investment-management-ab.html.

Cherry Hill Mortgage Investment Profile

Cherry Hill Mortgage Investment Corporation, a residential real estate finance company, acquires, invests in, and manages residential mortgage assets in the United States. The company operates through Investments in RMBS and Investments in Servicing Related Assets segments. It manages a portfolio of servicing related assets, residential mortgage-backed securities (RMBS), and prime residential mortgage loans, as well as other residential mortgage assets.

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Institutional Ownership by Quarter for Cherry Hill Mortgage Investment (NYSE:CHMI)

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ClosingCorp Joins Blend Partner Ecosystem to Expand Access to Closing Cost Data

… Partners, Emergence Capital, Founders Fund, Andreessen Horowitz, 8VC, Lightspeed Venture Partners, and other leading venture investors.

SAN DIEGO–(BUSINESS WIRE)–Apr 10, 2019–ClosingCorp, a leading provider of residential real estate closing cost data and technology for the mortgage and real estate services industries, today announced it has joined Blend ’s data-driven consumer lending ecosystem. Lenders using Blend’s platform will now be able to instantly access real-time third-party provider rates and fees from over 20,000 service providers.

The integration gives lenders the ability to manage fees delivered by SmartFees within Blend’s point-of-sale (POS) system and the lender’s commercial loan origination system (LOS). This makes ClosingCorp a single-source of fee information since the data file created in Blend’s platform can now pass through to the lender’s LOS, enabling lenders to disclose from Blend or their LOS, as desired. The integration also enables the lender to adjust loan characteristics, where fees can be re-quoted as needed, helping to ensure compliance and improve time-to-close metrics. Borrowers receive a modern, transparent experience that allows them to complete an application from any device, review pricing and get approved in just a few clicks.

“At Blend, our mission is to power a frictionless, compliant, and more accessible consumer lending ecosystem,” said Ram Woo, Blend’s head of business development. “ClosingCorp’s SmartFees brings us best-in-class accuracy and efficiency, while providing a completely transparent closing process for our clients and the consumers they serve.”

“Up until now, the previous ‘stare-and-compare’ between loan data and documents has been a time-consuming and error-prone effort,” said Bob Jennings, chief executive officer of ClosingCorp. “Integrating our configurable fee solution with Blend’s data-driven consumer lending platform creates a more efficient, transparent and user-friendly experience across the board.”

For more information, please visit closing.com

About ClosingCorp

Headquartered in San Diego, Calif., ClosingCorp owns and operates the premier source of intelligence for closing costs and service providers in the U.S. residential real estate industry. Through innovative solutions, progressive technologies and strong alliances, the company delivers timely, accurate and transparent results that help optimize closing processes and services for mortgage lenders, title and settlement companies and real estate professionals. Clients rely on ClosingCorp to help improve efficiencies and mitigate risk. For more information, please visit www.closing.com.

About Blend

Blend is a Silicon Valley technology company propelling the $40+ trillion consumer lending industry into the digital age through partnerships with banks, lenders, and other technology providers. Blend’s cloud-based technology delivers speed and efficiency to lenders so they can serve the modern borrower and safely navigate the industry’s changing rules and regulations.

Founded in May 2012, Blend is backed by Greylock Partners, Emergence Capital, Founders Fund, Andreessen Horowitz, 8VC, Lightspeed Venture Partners, and other leading venture investors. To learn more, visit www.blend.com.

View source version on businesswire.com:https://www.businesswire.com/news/home/20190410005034/en/

CONTACT: MEDIA CONTACTS:

Bill Campbell

Campbell Lewis Communications

212.995.8057

bill@campbelllewis.com

Carol Crawford

ClosingCorp

858.352.7434

ccrawford@closing.com

KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA

INDUSTRY KEYWORD: OTHER CONSUMER TECHNOLOGY DATA MANAGEMENT INTERNET SOFTWARE PROFESSIONAL SERVICES BANKING FINANCE CONSTRUCTION & PROPERTY RESIDENTIAL BUILDING & REAL ESTATE CONSUMER

SOURCE: ClosingCorp

Copyright Business Wire 2019.

PUB: 04/10/2019 09:00 AM/DISC: 04/10/2019 09:00 AM

http://www.businesswire.com/news/home/20190410005034/en

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Pulte Mortgage and Finicity partner to combat home loan paper chase

Source: Pulte Mortgage. Pulte Mortgage announced today it is partnering with Finicity — a leading provider of real-time financial data access and …

Pulte Mortgage is a wholly-owned subsidiary of PulteGroup, Inc. (NYSE: PHM) that finances new home construction for customers of Pulte Homes, Centex, Del Webb, DiVosta, and John Wieland Homes and Neighborhoods brands.

As anyone with a mortgage knows, securing a home loan has historically been a manual, paper-intensive process—especially when it comes to verifying borrowers’ assets. Through Finicity’s verification platform, up to 24 months of bank, brokerage and 401k data can now be accessed to confirm assets within minutes—eliminating the need for borrowers to find, copy and scan reams of paper verifications. This can reduce the mortgage origination time by more than a week, giving borrowers more control of the process, without a lot of the hassle.

Although the mortgage process has drastically improved over the past decade for borrowers and lenders alike, it hasn’t always been this way. “The mortgage lending industry has changed dramatically over the decades, but never more so than over the past 10 years,” said Debra Still, president and CEO of Pulte Mortgage. “The average loan file used to be about 300 pages, but today’s regulatory and compliance demands have pushed this figure to more than 800 pages. The need for ever-increasing volumes of supporting data puts an incredible burden on the borrower, which is why we strategically invest in integrated technology solutions, like Finicity, to reduce the time and complexity associated with securing a mortgage.”

The partnership with Finicity is just the latest in Pulte Mortgage’s commitment to advance technology solutions that make it easier and more transparent for borrowers navigating the mortgage process. In addition to their new instant asset verification feature through Finicity, Pulte Mortgage customers can upload essential documentation from their mobile device with just the snap of a picture; e-sign key regulatory disclosures with the swipe of a finger; and leverage a personalized digital dashboard to stay up-to-date on their loan’s progress when and where they want. These digital enhancements strengthen data security by leveraging advanced authentications, bank-level encryptions and secure borrower connections.

“Today’s consumers have come to expect simple and rapid experiences enabled by digitization,” said Steve Smith, CEO of Finicity. “Pulte is an innovator that is embracing digital solutions to further deliver a superior borrower experience by giving their loan consultants more time to engage with their buyers.”

“Whether it’s your first house or your last, building a new home is an exciting process,” added Still. “It is a time where you get to create a space that is uniquely personalized for your lifestyle and taste. That is why we are continuously working to simplify home financing for our customers, so they can spend more time focusing on building their dream home.”

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Pulte Mortgage and Finicity Partner to Combat the Home Loan Paper Chase

Pulte Mortgage announced today it is partnering with Finicity — a leading provider of real-time financial data access and insights, to provide its …

Pulte Mortgage announced today it is partnering with Finicity — aleading provider of real-time financial data access and insights, toprovide its borrowers with a faster, simpler and more secure way tonavigate the home financing process. Pulte Mortgage is a wholly-ownedsubsidiary of PulteGroup, Inc. (NYSE: PHM) that finances new homeconstruction for customers of Pulte Homes, Centex, Del Webb, DiVosta,and John Wieland Homes and Neighborhoods brands.

As anyone with a mortgage knows, securing a home loan has historicallybeen a manual, paper-intensive process—especially when it comes toverifying borrowers’ assets. Through Finicity’s verification platform,up to 24 months of bank, brokerage and 401k data can now be accessed toconfirm assets within minutes—eliminating the need for borrowers tofind, copy and scan reams of paper verifications. This can reduce themortgage origination time by more than a week, giving borrowers morecontrol of the process, without a lot of the hassle.

Although the mortgage process has drastically improved over the pastdecade for borrowers and lenders alike, it hasn’t always been this way.“The mortgage lending industry has changed dramatically over thedecades, but never more so than over the past 10 years,” said DebraStill, president and CEO of Pulte Mortgage. “The average loan file usedto be about 300 pages, but today’s regulatory and compliance demandshave pushed this figure to more than 800 pages. The need forever-increasing volumes of supporting data puts an incredible burden onthe borrower, which is why we strategically invest in integratedtechnology solutions, like Finicity, to reduce the time and complexityassociated with securing a mortgage.”

The partnership with Finicity is just the latest in Pulte Mortgage’scommitment to advance technology solutions that make it easier and moretransparent for borrowers navigating the mortgage process. In additionto their new instant asset verification feature through Finicity, PulteMortgage customers can upload essential documentation from their mobiledevice with just the snap of a picture; e-sign key regulatorydisclosures with the swipe of a finger; and leverage a personalizeddigital dashboard to stay up-to-date on their loan’s progress when andwhere they want. These digital enhancements strengthen data security byleveraging advanced authentications, bank-level encryptions and secureborrower connections.

“Today’s consumers have come to expect simple and rapid experiencesenabled by digitization,” said Steve Smith, CEO of Finicity. “Pulte isan innovator that is embracing digital solutions to further deliver asuperior borrower experience by giving their loan consultants more timeto engage with their buyers.”

CIO, CTO & Developer Resources

“Whether it’s your first house or your last, building a new home is anexciting process,” added Still. “It is a time where you get to create aspace that is uniquely personalized for your lifestyle and taste. Thatis why we are continuously working to simplify home financing for ourcustomers, so they can spend more time focusing on building their dreamhome.”

About Pulte Mortgage:

Pulte Mortgage is a wholly-owned financial services subsidiary ofPulteGroup, Inc. (NYSE: PHM) that solely focuses on the financing of newconstruction homes for customers of Pulte Homes, Centex, Del Webb,DiVosta, and John Wieland Homes brands. Founded in 1972, Pulte Mortgagehas financed more than 700,000 homes from coast-to-coast while offeringborrowers more than 200 different home loan solutions. Pulte Mortgageworks hand-in-hand with the homebuilder to allow a closely-coordinated,streamlined financing experience that never misses a beat. To learn moreabout Pulte Mortgage and the services they offer, visit https://secure.pultemortgage.com/.(Equal Housing Lender – Company NMLS #1791)

About Finicity:

Finicity’s mission is to help individuals, families and organizationsmake smarter financial decisions through safe and secure access to fast,high-quality data. The company, which launched its first financialproduct in 2000 and has since grown to provide financial data APIs,credit decisioning tools and financial wellness solutions, partners withinfluential financial institutions and disruptive FinTech providersalike to give consumers a leg up in a complicated financial world.Finicity was awarded API World’s 2016 Finance API of the Year and is a2018, 2019 HousingWire Tech100 winner. To learn more or test drive itsAPI, visit www.finicity.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20190410005080/en/

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